The Stanly County Board of Commissioners handed a decision at Monday’s assembly which may give tax breaks to a producing firm in Oakboro increasing its current enterprise.
Candace Lowder, director of the Stanly County Financial Growth Fee, made a presentation to the board searching for a property tax based mostly enterprise growth grant of 55 % over 5 years.
The unnamed enterprise “has diversified its operations to fabricate therapeutic botanical merchandise inside the city of Oakboro,” Lowder mentioned.
She mentioned the undertaking will create 20 new jobs with salaries above the present county common leading to taxable investments of “at the very least $1 million in actual property enhancements and $4.5 million in equipment and tools.”
The measure nonetheless needs to be authorised after a public listening to of the Oakboro City Council at its common assembly Feb. 15. The contract will then must be signed by all events earlier than going into impact.